osterish Consumer Staples Consumer • Finarmars • fnergy Telco 4IT 5 10 ROE (%) 15 20 25 tarot Onto* O&M arCOTD•Ig Amara LP iFigure 3: DM - P/BV (x) versus RoE (%) 40 - 33 30 IT 23 2.0 • 13 1.0 OS 0.0 S TOco RIaltioa • ri Whits Lis Energy SHORT 10 15 20 25 RC* (%) San bank*